We have touched on the Iran war and how much of it has unfolded. The sanctions that exist have also been examined. Clearly there is a seismic shift coming in the world of oil sanctions. Venezuela is no longer a pariah state. Their oil is now selling on the world market and being paid for in petrodollars.
Iran’s oil will follow if the regime is ousted. This would mean a more open market for oil which would stabilize prices and bring greater stability to the world’s economics.
Scott Bessent has temporarily lifted the sanctions on the sale of Russian oil to India. Recently Vladimir Putin said Russia remains prepared to resume large-scale oil and gas cooperation with European buyers under long-term agreements.
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